On January 20, 20X4, a personal residence which originally cost $280,000 was converted into a rental property. At this time, the property had a fair market value of $320,000. On June 1, 20X6, the property was converted back to a personal residence. At that time the property had a fair market value of $305,000. Assume the personal residence was not designated as the principal residence. Required: If the building is the only asset in Class 1, what are the consequences to NITP for the years 20X4 through 20X6, inclusive